Strength of USD versus currencies of EU, Japan, China, India, Russia, Mexico, Brasil, Saudi Arabia, Turkey, South Korea.
There had been a cosmic demand for dollar but as COVID hit USA from April 6 we saw a breakdown.
Now we are at major support, on the monthly balance point, from which a push up is likely but not guaranteed.
The area between CAMS1 and CAMR1 is...
The price bounced off the Mirror Level and continued its up move.
The Support line wasn't broked, the trend is bullish - that's mean we should predict only buy trades here.
The potential profit will be 3 times bigger than the risk.
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Write your comments and questions...
As I drew on the graph, there is some probability that we could see growth to 85-90 rubles for 1 dollar in the nearest future.
Also I suppose we could see flat instead if growth. I don't see any positives in RU economics. Exchange rate could become better only if US dollar become weaker, which I doubt in.
How do you think?
I consider that Russian debt market has reversed, since almost all waves suits to proportional rules and RGBI has just formed entrance wedge that point out to the beginning of bear market. Without any doubts it will effect to Russian RUB that might devalue substantially.
Russian rubble had a strong correction
to 68.25, but after that, formed the pattern
triangle with T2 and T3 trendlines (1,2,3,4
points). You can find expected movement
with green lines. In my opinion RUB will
stabilize a bit on christmas holidays, but
after, will decline up to 84.00, if CBR will
not take strong actions. Anyway CBR cann't
change the trend...
Three times consolidations have brought profit on the sale of the ruble for the dollar. Now the intervention of the Central Bank of Russia and state-owned companies will temporarily suspend the process of weakening the ruble. But this process will continue anyway, as investors are withdrawing money from Russia's bonds (the RGBI index goes down), the oil price goes...